Hyundai Vinashin launches d'Amico LR1 trio

Cielo Bianco, one of three Long Range 1 Oil/Product Tankers launched today at Hyundai Vinashin shipyard

OCTOBER 19, 2017 — Milan Stock Exchange listed d'Amico International Shipping (DIS) today launched the first three LR1 (long-range) vessels in its history in a ceremony at the Hyundai Vinashin shipyard in Vietnam.

The d'Amico Group's team of Italian engineers cooperated with the Vietnamese shipyard to design the new generation eco-ships, which represent a total investment of $131 million. Measuring 228 ms long and 36 m wide, they have a higher cargo capacity than conventional vessels of similar type vessels. Thanks to their innovative hull design and energy-efficient engine, the LR1s deliver significant daily fuel savings, already meeting 2020 international standards.

The three Long Range 1 Oil/Product Tankers named Cielo Bianco, Cielo Rosso and Cielo di Rotterdam bring to thirteen the total number of ships built by the d'Amico Group in Vietnam over the last three years, a major component of the company's $755 million new construction plan for a total of 22 vessels.

"Vietnam is becoming the shipbuilding hub of our fleet," said Paolo d'Amico, Chairman of d'Amico International Shipping. "Our partnership with Hyundai Vinashin allows us to work in close cooperation with the yard, adopting innovative choices to build vessels with outstanding quality, versatility and the energy-efficiency requested by our customers, including oil majors."

Two of the three ships launched today will be delivered by the end of 2017, with the third following at the beginning of 2018. A further three sister vessels will be delivered during 2018.